(Reuters) — The U.S. Securities and Exchange Commission has asked some major hedge funds to review some employees’ personal cellphones for evidence of business dealings on unauthorized channels, Bloomberg News reported on Thursday.
The hedge funds include Steve Cohen’s Point72 Asset Management and Ken Griffin’s Citadel, the report said, citing people familiar with the matter.
SEC and Point72 and did not immediately respond to Reuters’ request for comment, while Citadel said it had no immediate comment.
Last year, the SEC and the Commodity Futures Trading Commission fined 16 financial firms, including major banks such as Goldman Sachs Group Inc. and Morgan Stanley, a combined $1.8 billion after staff discussed trades and deals on their personal devices and apps, in a sweeping . examination of record keeping methods.
Reuters reported in October that the SEC’s probe had expanded to include investment funds and advisers.